HELP! Is my bad credit score affecting my husband mortgage?

fumifumi

Hello, my husband and I were trying to buy a flat a couple of months ago. A private broker searched some deals and send us one of those Key Facts document for a mortgage but I don't think it was an agreement in principle. We never got that flat for various reasons but we now put an offer on a new property. When a new broker tried to get an agreement in principle we were refused by ALL banks, apparently due to my poor credit score (missed payment on a NEXT directory account worth £85). My husband score is 999 (Excellent), he has a great job, good salary and could apply, in theory, for a mortgage just by himself. Our broker, though, told us even if he applies just on his name, they will do check on my name too, since he previously submitted applications with both names. Can this be possible? Is there a way out? Also, when my husband checked his record, a couple of credit checks made by banks came up, the same the old broker send us quotes for. Does it means he tried to get us an AIP? Could all these checks affects our score now? What can we do?? Any suggestions will be really appreciated. Thanks

paulmapp8306

A single missed payment should affect you that much - unless it was very recent.

Forget the "999" score as well - it means nothing as Lenders do their own scoring. More important to look for is history of credit use. Missed payments are bad - but a one off in the past shouldnt affect things.

it also depends on the LTV your after. the bigger deposit the less little things like that will affect you.

Im buying on my name only, as my wife has small income and would have to give that job up to move (Im forces in NI and were buying "back home" for when I finish). Her credit history will still be checked as shes linked (joint bank account etc).

Dave_Ham

Firstly - do not worry..

Ok, assuming that you had the misfortune of using the Estate Agents in house broker?

They should not have done what they did, but clearly being on the credit report means they have..

Get yourself a decent broker as clearly there is an underlying issue and it will not be a missed payment on a catalogue..

Get your Experian and Equifax credit reports and get them to a decent broker, who should be able to find you a solution..

Do not pay any attention to what Credit Expert says or scores - it is as useful as the bloke down the pun...

fumifumi

Thank you, will try and do that. Hopefully it will work out